AT&T Inc. $T Stake Lessened by Farmers Trust Co.

Key Points

• Farmers Trust Co. reduced its stake in AT&T by 14.3% during the second quarter, owning 233,912 shares valued at approximately $6.77 million.
• Wall Street analysts have shown positive outlooks on AT&T, with several firms increasing their price targets, leading to a consensus rating of "Moderate Buy" and a target price of $30.74.
• AT&T recently announced a quarterly dividend of $0.2775 per share, resulting in an annualized dividend of $1.11 and a yield of 3.8%.

Farmers Trust Co. lessened its stake in AT&T Inc. (NYSE:T - Free Report) by 14.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 233,912 shares of the technology company's stock after selling 38,970 shares during the period. AT&T comprises about 1.3% of Farmers Trust Co.'s investment portfolio, making the stock its 24th largest position. Farmers Trust Co.'s holdings in AT&T were worth $6,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in T. Brighton Jones LLC increased its stake in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC bought a new stake in AT&T during the fourth quarter valued at $213,000. Toronto Dominion Bank increased its stake in AT&T by 15.0% during the fourth quarter. Toronto Dominion Bank now owns 4,050,292 shares of the technology company's stock valued at $92,225,000 after purchasing an additional 528,314 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in AT&T during the fourth quarter valued at $78,000. Finally, Putney Financial Group LLC bought a new stake in AT&T during the fourth quarter valued at $27,000. Institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

T has been the subject of several recent research reports. Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company upped their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. UBS Group set a $33.00 price target on shares of AT&T in a research report on Thursday. Scotiabank upped their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.74.

AT&T Trading Down 0.3%

NYSE:T opened at $28.92 on Tuesday. The stock's 50 day moving average price is $28.49 and its 200 day moving average price is $27.84. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a market capitalization of $206.79 billion, a P/E ratio of 16.43, a P/E/G ratio of 3.59 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm's revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T's dividend payout ratio is presently 63.07%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.

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